In this episode of Fast Money, Julie Biel, Guy Adami, and Melissa Lee discuss the current economic landscape and their thoughts on an impending recession. Julie highlights the surprising absence of a recession despite predictions, and she wonders what will be the catalyst for triggering one. The group speculates that the shadow banking crisis and events like what happened with Silicon Valley Bank could potentially lead to a recession. Julie expresses her curiosity about the factors that could push the economy into a downturn.

Julie describes the market as stagnant, particularly in the residential sector where people seem hesitant to take action. However, she emphasizes the importance of refinancing to keep the market moving and prevent future defaults on buildings. While Julie believes New York is relatively stable, she acknowledges that other markets, besides San Francisco, may be vulnerable.

Video Transcript Excerpt:
Julie: It’s such a fascinating time period right now if you think about it. All of us came into this year assuming there would be a recession in the coming weeks. I mean, the Fed was practically hanging out Bingo cards for what’s going on in the next recession, and it hasn’t shown up. It hasn’t materialized. And I keep wondering what is going to be the thing that tips us into it.

Initially, I think everyone thought it could be, you know, what happened with SVB, and I think we continue to have concerns about what’s going on in the shadow banking crisis looming ahead of us. But other than that, it’s really hard to see what’s going to, kind of, trip it into recession. So, that’s the part that I’m the most curious about right now.

Watch the rest of the interview above.